Canadians split on taking summer vacation amid affordability crunch: Yahoo/Maru survey

While many Canadians continue to grapple with a higher cost of living, more than half are still planning to take a summer vacation this year, according to a new Yahoo/Maru Public Opinion poll. (Getty Images) (Peter Mintz via Getty Images)

While many Canadians grapple with a higher cost of living, more than half are still planning to take a summer vacation this year, according to a new Yahoo/Maru Public Opinion poll.

The survey of 1,503 adults found that 53 per cent of Canadians plan on taking a summer vacation, with 26 per cent of those getting ready to travel planning on spending more this year than they did in previous years. That’s roughly the same compared to 2022 (54 per cent), the last time the survey was conducted, not long after COVID-19 pandemic-related restrictions were lifted. About half (56 per cent) expect they will spend the same amount as previous years, while 18 per cent say they will spend less.

A majority – 67 per cent – of those who are planning a summer vacation will take it domestically, compared to 31 per cent who are gearing up to travel internationally. Younger Canadians (40 per cent) are more likely to travel internationally, as well as higher-income earners making more than $100,000 a year (37 per cent). Those who are more likely to travel domestically include older Canadians (77 per cent of those aged 55 and older), as well as respondents from Manitoba and Saskatchewan (81 per cent), Atlantic Canada (76 per cent) and Quebec (73 per cent).

Still, cost-of-living pressures are weighing on some Canadians’ plans this summer. For the 47 per cent of respondents who say they will not be having a summer vacation this year, the top reason cited is higher costs (31 per cent) and affordability concerns (10 per cent).

Travel costs have started to moderate in Canada, Statistics Canada data showed this week, amid a broader deceleration in inflation. Travel tour prices in April were up 0.5 per cent annually, but down 7.5 per cent on a monthly basis, while traveller accommodation costs fell 1.5 per cent annually, but were up 4.3 per cent compared to March.

A separate Deloitte Canada summer travel outlook survey found that Canadians plan to spend an average of $2,405 on transportation and lodging costs for their vacations this year. In a statement, Leslie Peterson, Deloitte Canada’s leader of national transportation, hospitality and services, says there are significant growth opportunities for the travel and hospitality industry this year, “keeping in mind that travellers will still be price-sensitive.”

“Despite an unpredictable economic climate, Canadians still value their travel plans for the upcoming summer season and are more eager than ever to make the most of their time off,” Peterson said.

The Yahoo/Maru survey of 1,503 Canadian adults was conducted between May 8 and May 9 and has an estimated margin of error of +/- 2.5 per cent, 19 times out of 20. The results have been weighted to match the population according to census data.

Alicja Siekierska is a senior reporter at Yahoo Finance Canada. Follow her on Twitter @alicjawithaj.

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